PRINCETON, N.J. (WHTM) — Princeton University has announced it will enhance its financial aid program to attract more talented students.

According to a release, most families earning up to $100,000 a year will pay nothing, and many families with income above $100,000 will receive additional aid for the 2023 school year.

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“One of Princeton’s defining values is our commitment to ensure that talented students from all backgrounds can not only afford a Princeton education but can flourish on our campus and in the world beyond it,” President Christopher L. Eisgruber said.

“These improvements to our aid packages, made possible by the sustained generosity of our alumni and friends, will enhance the experiences of students during their time at Princeton and their choices and impact after they graduate,” he added.

More information about these financial aid policies can be found here.

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As quoted in the release, the results of these changes will include.:

  • Most families whose annual income is less than $100,000 will pay nothing for tuition, room and board, up from the previous $65,000 annual income level. Roughly 1,500 Princeton undergraduates are expected to receive this level of aid — more than 25% of the undergraduate student body.
  • The $3,500 student contribution typically earned through summer savings and campus work will be eliminated. The elimination of the student contribution will provide more opportunities for students to study abroad and to pursue other curricular and co-curricular activities during the summer and academic year. 
  • The financial aid calculation will be simplified so most families can compute their aid award with readily available information.